KBC KBC says I am not impacted

doyler1

Frequent Poster
Kbc are in front of the committee next week why don't you put that question to them via the politicians!

We have seen they have written the wording rolling to "Standard Variable Rate" into some fixed contracts during this period, they have also used the wording "Home Loan Variable Rate,".
Then there is the "lenders prevailing variable rate" which is the same interest rate wording describing the interest rate in my tracker loan offer with the margin set in the special conditions an addendum to the main offer.

Those fixed loans with the lenders prevailing variable rate the margin is set in the broker communication. Outside of the flyer dates it's a grey area that needs to be investigated.
My thoughts exactly Lightening, question needs to be put regarding people with same contract condition's,same time frame being impacted and others not.
 

mccoypat94

Frequent Poster
Spoke to a knowledgable lady on the helpline this morning, who confirmed why I haven't had a letter and am not deemed impacted.

I do not fit into the Nov 06- Feb 08 cohort of 650 because the application was received in July 2006 pre' the flyer' and that is what they are are basing the cohort on.

Im very disappointed with this as we drew down in March 2007 and thought I was sure to be included. We also didnt decide on a rate until January 2007 and actually changed at the last minute having spoken to the broker

End of the road or are they chancing their arm...?
 
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Jazzer1

Frequent Poster
P.Kinssane is meeting with K.B.C for the first time today so he said on the P. Kenny Show. So hopefully he can get some clarification on the contracts that have the same wording but each account has different outcomes in relation to been deemed impacted or not.
 

mccoypat94

Frequent Poster
My thoughts exactly Lightening, question needs to be put regarding people with same contract condition's,same time frame being impacted and others not.
I was told that I am not within the 650 PDH Nov 06-Feb 08 as I applied in July 06. are you within this time-frame?
 

Jazzer1

Frequent Poster
Yes applied in Jan 08, But I left K.B.C in 2016 and moved to Ulster bank. When I rang and they told me I was not impacted I asked the reason why...they said "when my fixed term expired in 2010 I moved on to an s.v.r,on my contract it's the same as other people who were deemed impacted.I said I believed to be part of the 650 cohorts and they said we investigate every account individually and a lot of these accounts in this period are deemed not impacted.which is a load of nonsense, they can't treat people differently who has the same terms and conditions.
 

mccoypat94

Frequent Poster
You applied though within the time frame so you are different to me.
Have you called them to ask why?
Today was the first time I spoke to anybody who was knowledgeable and knew as much as I did. I didnt agree with her/kbc reasoning however she made complete sense and first the first time I got a satisfactory answer to my query rather than nonsense scripts

Its worth a shot.
 

doyler1

Frequent Poster
I was told that I am not within the 650 PDH Nov 06-Feb 08 as I applied in July 06. are you within this time-frame?
Hi mccoypat sorry to hear your news Its very disheartening I know from my own experience-yes my frame time frame is in the cohorts December statement I drew down through a broker in February 08 on a fixed term but was told via the phone a few weeks ago after being in scope that I am not impacted? I cant understand it and they couldn't give me a valid reason on the phone, since then I have started a complaint which I am waiting for them to get back to me on but I am sure it will be more of the same. I rang the financial ombudsman the other day and outlined things to one of the tracker team he couldn't understand it either he told me to lodge the complaint and get a letter from them with an explanation and he will start things from his end if their is no plausible explanation.
 

doyler1

Frequent Poster
No Jazzer1 he just said to make a complaint and outline your reasons let them investigate and come back with an answer get it in writing g and then contact him if I am not happy with the outcome / answer from them
 

Jazzer1

Frequent Poster
Received an email from K.B.C this morning....."i know of a Saturday!!!".....They told me I would have a reply to my complaint letter over not been deemed impacted by no later than the 26th of Feb. They also gave me a number to a specific person if I have any more questions.
 

unfortunate

Frequent Poster
Just looking at email KBC sent in reply to complaint. They quoted the homeloan prevailing variable rates from 05 to late 08 and these rates followed the ecb rate exactly 1.25 over it, month for month upwards. But they kept going on as ecb fell. This margin of 1.25 didn't vary. Has to be said that the answers to my questions were really poor and have gotten back looking for more off them. Also I ask again do the banks always use headed paper in correspondence and signature block to identify the signatory.
 

Jazzer1

Frequent Poster
Just looking at email KBC sent in reply to complaint. They quoted the homeloan prevailing variable rates from 05 to late 08 and these rates followed the ecb rate exactly 1.25 over it, month for month upwards. But they kept going on as ecb fell. This margin of 1.25 didn't vary. Has to be said that the answers to my questions were really poor and have gotten back looking for more off them. Also I ask again do the banks always use headed paper in correspondence and signature block to identify the signatory.
Any email I've received has had headed paper on it. In relation to the answer they gave you i cant see that standing up with the Ombudsman!.
 

unfortunate

Frequent Poster
Thought so on paper. They're general behaviour is just poor in all aspects of communication and transparency. I've asked for brochures and glossary of terms from 2005. Can't say I'm hopeful of getting them. Or they'll just make it up on the spot to bluff it.
 

Sanparom

Frequent Poster
@Jazzer1 I also got an email today. They said they'd look into my complaints and get back to me by the 28th Feb.

I can just see them trying to come up with a way of worming themselves out of the prevailing rate issue. I'm not going to let them away with it easily though.
 

Jazzer1

Frequent Poster
Emails on Saturday. Circling the wagons. I think they are shaping up to put it all to bed and move on.
Or did something happen with the meeting with P.Kissane yesterday......it was the first time he has spoken with kbc. There is 56 dispute cases at the moment over been deemed not impacted.
 

mccoypat94

Frequent Poster
There will be a lot more than 56 disputed cases next week on I'd imagine. Mine included. Many like me have only been notified in the last couple of days that they are deemed unimpacted.
I will be lodging my complaint on Monday and I believe I have a case having examined the paperwork and correspondence.
Manipulation of the date parameters is outrageous behaviour, it's my view that an application process is incomplete until all paperwork is signed and sealed with the legal eagles, not when an initial application is submitted. Any views?
 

Jazzer1

Frequent Poster
There will be a lot more than 56 disputed cases next week on I'd imagine. Mine included. Many like me have only been notified in the last couple of days that they are deemed unimpacted.
I will be lodging my complaint on Monday and I believe I have a case having examined the paperwork and correspondence.
Manipulation of the date parameters is outrageous behaviour, it's my view that an application process is incomplete until all paperwork is signed and sealed with the legal eagles, not when an initial application is submitted. Any views?
Mccoypat94 I was within the time frame I applied in jan08 and they told me my contract said I was to roll on to an s.v.r after my 2 year fixed! the words standard variable rate is nowhere to be seen in my loan offer letter!. Another guy when i rang said that private dwellings cohort of 650 was from 1000's of accounts in that period. Everyone else thought it was every new applications. In my experience they are full of bull!!.
 

DamC82

Frequent Poster
Mccoypat94 I was within the time frame I applied in jan08 and they told me my contract said I was to roll on to an s.v.r after my 2 year fixed! the words standard variable rate is nowhere to be seen in my loan offer letter!. Another guy when i rang said that private dwellings cohort of 650 was from 1000's of accounts in that period. Everyone else thought it was every new applications. In my experience they are full of bull!!.
Sorry jazzer I'm sure you've stated all this elsewhere but just to clarify:
A)New application.. submitted Jan 08.
B)Through a broker.
C) You drew down ..sometime in 08?
 
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